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    Uzbekistan

    Expert comments on "One Belt, One Road" initiative and its role in shaping Central Asia's future

    Expert comments on "One Belt, One Road" initiative and its role in shaping Central Asia's future

    A summit dedicated to the "One Belt, One Road" project is scheduled for October 17-18 in Beijing, China, and President Shavkat Mirziyoyev of Uzbekistan is set to partake in this significant event. This initiative, championed by Chinese President Xi Jinping, celebrates its 10th anniversary this year and aims to rejuvenate the ancient Silk Road, fostering global trade through massive infrastructure and energy ventures.

    The map of the "One Belt, One Road" project.
    Source: Radio Free Asia

    The "One Belt, One Road" project encompasses two primary directions, land and sea. Of these, the land route is of particular interest to Uzbekistan. This ambitious project, conceived in 2006, encompasses roads traversing Russia, Kazakhstan, and Uzbekistan, with Afghanistan now becoming a part of this endeavor.

    Economic analyst Shukhrat Rasul elaborated on the advantages of this project for participating countries, emphasizing its potential for substantial gains.

    Uzbekistan's involvement in this project ensures revenue for transit goods transportation, coupled with the imposition of state duties if these products remain within the nation. Furthermore, China plans to establish infrastructure for marketing its products within Uzbekistan. An enticing prospect lies in the potential relocation of some Chinese manufacturing companies to countries along this route, notably Uzbekistan and Kazakhstan.

    A woman walks in front of a sign at the "Belt and Road" summit in Hong Kong, China September 14, 2023.
    Source: Reuters

    This strategic move seeks to reduce the costs of products exported to Europe. For instance, China can process Uzbek cotton within Uzbekistan, transforming it into a finished product for sale in Europe. Collaborative ventures could also take shape, generating tax income for Uzbekistan, expanding employment opportunities, and proving mutually advantageous.

    Rasul drew parallels with the relationship between Mexico and the USA, highlighting the transformative impact of the latter moving its automobile industry to Mexico. The reason being that in the 70s or 80s, Mexico was not even in the top 100 by its GDP. but now it is in 13th place.

    "Today, most of the largest automobile companies in the United States have moved to Mexico. China can also move its automobile industry to Uzbekistan. Because Uzbekistan has cheap labor compared to China. That is, Uzbekistan can repeat the experience of Mexico," says the expert.

    Notably, the "Taliban" will also be part of the summit hosted in Beijing.

     

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    15.10.2023, 23:07   Comments (0)   4308
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